📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Accounts that pay interest at maturity

2»

Comments

  • Albermarle
    Albermarle Posts: 32,943
    Eighth Anniversary 10,000 Posts Name Dropper
    Forumite
    Apollo22 said:
    I am a self assessor and having the tax at maturity makes more sense for me, as it impacts the tax I am liable to as I expect to be retired by then
    When you do your self assessment, just put zero interest earned ( until the maturity year of course). There is some comments in other threads that HMRC will use that figure rather than what is reported by the providers. Not guaranteed of course.
    Note that the providers do not usually supply any figures to HMRC until June onwards, so if you do the SA in say May you might get ahead of the game.
  • fuzzzzy
    fuzzzzy Posts: 458
    Sixth Anniversary 100 Posts Name Dropper
    Forumite
    You could also note the account number and state what tax year the interest becomes accessible in the 'any other info' box on the self assessment form.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 355.9K Banking & Borrowing
  • 255K Reduce Debt & Boost Income
  • 456.2K Spending & Discounts
  • 248.4K Work, Benefits & Business
  • 606.1K Mortgages, Homes & Bills
  • 179.1K Life & Family
  • 264K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.7K Read-Only Boards
Quick Search

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.